Legal Question in Real Estate Law in India
My husband expired and I am the nominee for his LIC Policy. I got the insurance amount on his death. Now my mother-in-law asking 25% share from the insurance amount and filed a suit for succession certificate to get the LIC amount. Kindly let me know whether my mother- in -laws action is correct. whether he is eligible for the share in the insurance amount.
3 Answers from Attorneys
Only nominee is eligible.
in case you husband died without leaving a will, your mother is also entitled to an equal share in the proceeds of LIC policy. you along with your children and parents of your husband have equal share.
It is settled law that nominee is merely a trustee of heirs of the deceased.
In case your husband left a Will, then LIC amount would be governed by the Will.
In case your husband died without leaving a Will, then his assets and liabilities would be governed by the personal law of succession governing him.
In case of Hindu male, mother is Class-I heir and would be entitled to a equal share with ohter Class-I heirs. Other Class-I heirs are widow, sons, daughters etc. All Class-I heirs share equally.
Related Questions & Answers
-
Suit for the Property Judgement has been awarded against me in My property suit... Asked 10/21/09, 10:13 am in India Real Estate and Real Property
-
Suit for the Property Judgement has been awarded against me in My property suit... Asked 10/21/09, 10:12 am in India Real Estate and Real Property
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
